Robert Kraft Net Worth: Robert Kraft Is The Richest Man In The World

Robert Kraft is the richest man in the world since he is the Chairman and CEO of The Kraft Group. The New England Patriots, the New England Revolution, and Gillette Stadium are all under his direct ownership, which is how he became so well-known.

Robert Kraft Early Life

On June 5, 1941, Robert K. Kraft was born to Sarah and Harry Kraft in Brookline, Massachusetts. He was born into a working-class family of Modern Orthodox Jews. He graduated as the president of his class from Brookline High School in 1959.

When Kraft enrolled at Columbia University, he was elected president of his class once more. Besides being a freshman and lightweight football player, he also joined the Zeta Beta Tau fraternity. Following his graduation from Columbia in 1963, Kraft enrolled in Harvard Business School and earned an MBA there in 1965.

Robert Kraft Personal Life

It was in a Boston deli in February of 1962 that he first laid eyes on the love of his life, Myra Hiatt. In June of 1963, the couple tied the knot. The couple’s offspring was named Jonathan, Daniel, Joshua, and David. In Newton, Massachusetts, the Krafts attended Temple Emanual. On July 20, 2011, Myra Kraft passed away from ovarian cancer. Her age was given as 68.

Actress Ricki Noel Lander, 39 years Kraft’s junior, became Kraft’s girlfriend in June 2012. In the late fall of 2017, Lander became a mother. When the birth was announced in May 2018, Kraft denied paternity despite widespread suspicion that he was the child’s biological father. This year (2018) saw the end of Kraft and Lander’s relationship.

Robert Kraft Net Worth 2022

Robert Kraft is a businessman with a $7 billion fortune. He was born in Massachusetts.

Robert Kraft Paper Wealth

Kraft got his start in the business world working for his future father-in-law, Jacob Hiatt, at the Rand-Whitney Group, a packaging company. Kraft took ownership of the company via a leveraged takeover in 1968.

Even today, he still serves as chairman of the Rand-Whitney Group. International Forest Products was formed by Kraft in 1972; it is a paper commodity trader. When combined, the two paper and packaging firms are the largest privately held corporations in the United States.

After WNAC-TV was purchased by New England Television Corp. in 1982, Kraft was a stakeholder in the company. He joined the board of directors in 1983. In 1986, he was promoted to president of the company and the station was rebranded as WNEV-TV.

By 1991, he had decided to cash in on his stock option and had sold his shares for $25 million. Additionally, Kraft purchased a number of Boston radio stations. At last, in 1998, he established the Kraft Group, a paper business that today spans 90 countries and generates over $2 billion annually in revenue.

New England Patriots

For as long as Robert Kraft can remember—since the team’s days in the American Football League—he has been a dedicated Patriots supporter and season ticket holder. He purchased the land next to the New England Patriots stadium in 1985.

This was the first move in what appears to have been Kraft’s carefully laid plans to acquire full ownership of the New England Patriots. Second, in 1988, when the stadium was in bankruptcy court, Kraft outbid other competitors to purchase it for $25 million. Kraft bought the stadium and the lease to the Patriots along with it. This is crucial, as it forms a part of Kraft’s grand strategy to buy the team in the long run.

It was widely known at the time that Patriots owner James Orthwein wanted the NFL to return to his hometown of St. Louis, so rumors spread like wildfire in Boston that the team was planning to uproot and relocate there. Since the Cardinals left for Arizona in 1988, St.

Louis has been without a National Football League team. He’d even thought of a new name for the team: the St. Louis Stallions. To get out of Massachusetts, however, the club needed Robert Kraft’s permission to buy out the remaining years of their stadium lease.

For the remainder of the lease at Foxboro Stadium, James Orthwein offered Robert Kraft $75 million in 1994. If Kraft had given his blessing, the Patriots would have relocated to St. Louis. Robert Kraft, though, was able to recognize an opening and grab it.

Robert Kraft Net Worth

His counteroffer of $175 million (about $300 million in today’s money) for the Patriots was an NFL record. Considering the team’s low valuation at the time, this was an unprecedentedly high price. Orthwein took the offer since he realized breaking the lease would be impossible. After 16 years and 6 Super Bowl wins (in 10 appearances), the New England Patriots are now worth an estimated $4.1 billion.

Controversies

Police in Jupiter, Florida filed misdemeanor charges of “soliciting another to perform prostitution” against Kraft on February 22. The investigation that led to the charges was a human trafficking sweep of the Orchids of Asia Day Spa.

Authorities believed spa owners were s**x traffickers who coerced employees into s**xual services for paying customers. Some say Kraft engaged in s**xual activities at the Orchids of Asia Day Spa.

After being offered a plea deal on March 19, 2019, Kraft declined since doing so would have meant admitting guilt. Kraft’s attorneys filed court filings on March 26 in which Kraft pled not guilty to all counts and asked for a trial by jury. A Florida judge found in August 2020 that the seizure of the purported s**x recordings from a spa where Kraft had been performing them was a violation of his fundamental rights.

The court ruled that the prosecution could not use the films as evidence. Kraft’s case was dismissed for lack of evidence on September 24th, 2020. The most up-to-date information can be found at TheActiveNews.Com.

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